Broadcom announced on Monday that it will acquire NetLogic Microsystems for $3.7 billion and current NetLogic shareholders will receive $50 per share owned. “This transaction delivers on all fronts for Broadcom’s shareholders strategic fit, leading-edge technology and significant financial update,” Broadcom president and CEO Scott McGregor, said. “With NetLogic Microsystems, Broadcom is acquiring a leading multi-core embedded processor solution, market leading knowledge-based processors, and unique digital front-end technology for wireless base stations that are key enablers for the next generation infrastructure build-out. Broadcom is now better positioned to meet growing customer demand for integrated, end-to-end communications and processing platforms for network infrastructure.” The proposed acquisition still needs approval from domestic and foreign regulators but is expected to close during the first half of 2012. Read on for the full press release.